European stocks have fourth straight weekly gain

European stocks ended higher on Friday, notching a fourth straight weekly gain despite fresh investor worries over the U.S.-China trade dispute. U.S. stocks closed higher, with the Dow Jones Industrial Average gaining for a fifth week in a row, as investors focused on a broadly positive picture painted by earnings season so far. A deal reached by President Donald Trump and congressional Democrats to at least temporarily reopen the government had little impact on stocks.

In Europe, banks, miners and autos were among the biggest gainers, while telecommunications companies led the losers. The Stoxx Europe 600 ended 2.17 points higher at 357.84, a gain of 0.6%, after finishing up 0.2% on Thursday. For the week, the index rose 0.2%.

The euro was up on Friday, fetching $1.1403 from $1.1307 late in New York on Thursday. The British pound jumped on reports in the Sun newspaper that the Northern Ireland’s Democratic Unionist Party has decided to back a revised Brexit deal from Prime Minister Theresa May.

On Thursday, European Central Bank President Mario Draghi acknowledged that the outlook for the eurozone economy had deteriorated since December. Draghi indicated the ECB might have to keep its monetary policies loose enough to help the region’s economy out of the new slump.

Investors shook off news from Germany, that business sentiment deteriorated sharply in January — a sign that the economic troubles that started in the second half of 2018 are spreading into 2019.

The new chief executive of Goldman Sachs Group Inc. David Solomon, has echoed the warnings of his predecessor that a messy Brexit will impact the bank’s investment decisions in the U.K.

Meanwhile, China’s central bank said that it will release another $37 billion in additional cash to banks aimed at stimulating growth and create a bond-swap facility that the bank says will help boost lending in the world’s second largest economy.

This article was compiled by BOV Asset Management Limited, a member of the BOV Group. BOV Asset Management,TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Email: infoassetmanagement@bov.com Internet address: www.bovassetmanagement.com. BOV Asset Management is licensed by the MFSA.